Acquisition of Petrol Advertising, Inc. (US) by Toadman Interactive AB (SE) — USD 18 million

Carnegie acted as financial adviser and sole bookrunner to Toadman in relation to the acquisition of Petrol Advertising and the financing of the transaction through a SEK 120 million issuance of senior secured bonds under a larger loan framework amount with expected final maturity in June 2022. Toadman is a consultancy-driven gaming company with a goal of establishing an international market leading studio with expertise within action-based Role Playing Games (RPG) for PC, Playstation and Xbox. Petrol Advertising is a creative marketing company comprising a team of experts in Creative Development, Campaign and Go-To Market Strategy as well as Media Planning/Buying across gaming, tech, and sports. June 2019.